Print

Mail

wiki links

SinoPac offer falls short

SinoPac Holdings Co (建華金控) said it offered US$200 million of bonds convertible to its shares, 43 percent less than bankers involved in the sale had earlier said.

SinoPac, formed from Bank SinoPac (華信銀行) and National Securities Corp (建弘證券), said in a statement it is offering the five-year bonds yielding between 85 basis points and 115 basis points more than US Treasuries maturing in three years.

Convertible bonds offer investors a fixed return when shares fall while capturing any rise in the underlying stock.

SinoPac hired UBS Warburg to sell as much as US$350 million of convertible bonds, bankers involved in the transaction said at the time.

This story has been viewed 1667 times.